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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Revenue $ 2,765.0 $ 2,477.8 $ 2,846.4
Costs of revenue 1,865.5 1,695.6 1,936.3
Gross profit 899.5 782.2 910.1
General and administrative expenses 214.3 198.7 241.3
Sales and marketing expenses 150.8 146.5 165.9
Research and development expenses 94.9 84.9 97.9
Asbestos-related (benefit) costs, net (74.4) 66.3 (20.2)
Restructuring costs 9.6 43.0 12.8
Asset impairment charges 0.0 16.3 1.0
Operating income 504.3 226.5 411.4
Interest (income), net (1.1) (0.7) (4.1)
Non-operating postretirement (benefit) costs, net (1.3) 144.2 4.5
Miscellaneous (income), net (2.4) (2.2) (3.4)
Income from continuing operations before income tax 509.1 85.2 414.4
Income tax expense 189.6 15.3 89.9
Income from continuing operations 319.5 69.9 324.5
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent 1.5 4.0 1.7
Net income 321.0 73.9 326.2
Less: Income attributable to noncontrolling interests 4.7 1.4 1.1
Net income attributable to ITT Inc. 316.3 72.5 325.1
Amounts attributable to ITT Inc.:      
Income from continuing operations, net of tax 314.8 68.5 323.4
Net income attributable to ITT Inc. $ 316.3 $ 72.5 $ 325.1
Basic:      
Continuing operations $ 3.66 $ 0.79 $ 3.69
Discontinued operations 0.02 0.05 0.02
Net income 3.68 0.84 3.71
Diluted:      
Continuing operations 3.64 0.78 3.65
Discontinued operations 0.02 0.05 0.02
Net income $ 3.66 $ 0.83 $ 3.67
Weighted average common shares – basic 86.0 86.7 87.7
Weighted average common shares – diluted 86.5 87.3 88.6